Bad news for Putin as soon as he takes oath! Russia's dominance in the nuclear weapons business will be broken

To increase the production of uranium fuel in the country, the UK government has announced an investment of 196 million pounds ($246m) to open a uranium plant in the country. Russia currently has control over the uranium fuel business.

Only a few hours had passed since Putin took the oath of office and Britain has taken a decision that is going to shock Russia's dominance in the world of nuclear weapons. Russia currently dominates the uranium fuel market. Since the war between Ukraine and Russia, Western countries have imposed many sanctions on Russia. After which purchasing fuel from it has also been reduced or stopped. The UK government has announced an investment of £196 million ($246m) to build Europe's first facility for HALEU production at Capenhurst, Cheshire.

The purpose of this strategic move is to diversify the uranium fuel market, which is currently dominated by Russia. Apart from this, this project will also work for next-generation nuclear energy projects.

Oil production will start by 2031

This investment by the UK Government will provide funds to build a HALEU fabrication facility at the Government's cooperative Urenco Capenhurst site. According to the government's estimate, oil production for export and domestic use will start from this facility by the year 2031.

The annual production capacity of this facility will be 10 tonnes. HALEU can generate energy equivalent to more than one million tonnes of coal from this plant. Through this fuel, the country will be helped in dealing with environmental threats.

Foreign dependence on uranium fuel will reduce

Britain's Nuclear and Nuclear Minister Andrew Bowie said in an interview that we are seeing that new modular reactor streams are coming. The HALEU plant is also a special step in the production of uranium fuel, he further said that with this plant we will be able to export it along with domestic use.

Britain is giving financial assistance of 196 million pounds to uranium enrichment firm Urenco to build a facility in Cheshire, northwest England, this facility will provide about 400 jobs in the country. The Department of Energy Security and Net Zero said it would be ready to produce the fuel for domestic use or export by 2031. After its preparation, Britain will be able to reduce foreign dependence on uranium fuel.